I downloaded the new pcsx2 release. After running it for the first time, it asked me to configure, which I did. Afterwords I click ok, and then I get a message box popping up saying
"An unhandled or unrecoverable exception occured, with the message
bad allocation
Pcsx2 will now close. More detail may be available via the emulog.txt file"

actualy, i have exactly the same problem, but in my case it sais
"An unhandled or unrecoverable exception occured, with the message
Out of memory!
Pcsx2 will now close. More detail may be available via the emulog.txt file"